A few things to consider when starting out:1) Be sure you have liquidity for the down payment, but also a healthy reserve account, since unexpected costs will come up while owning real estate. 

CPA's are a good resource to talk these matters out with, but ultimately the realm of asset protection should be reserved for attorneys imho.

You can never be too prepared - have reserves and back up plans for everything.

Of course, there are a lot of things to look out for...setting up an appropriate contingency reserve for unexpecteds, getting an accurate scope of work, properly knowing what your time-value-of-money costs are going to be, making sure you're contractor is not pulling crews for other customers, knowing codes and getting your permitting right, and the list goes on.

If you have no “reserve” capital, it can be nerve racking.  

Must have 6 months of payments in reserve.

My bills on the house are around 900 a month including vacancy reserves.  

Just dont want to blow 20 to 40k ifyou dont have that money and its just a small fraction of your cash reserves. 

@Edward Jung the VA loan requires 6 months of PITI reserves for the purchase a 2-4 unit property.

Even if you were able to find 10% down, the lender would still require you to have another 10% - 15% on top of the DP when you add in closing costs and reserves.